I have gone through the lengthy posts regarding to the rating of a fully refunded feedback, and found no suitable case to mine; hence the expalanation.

Recently, I was hirded by a client and we were talking thorugh Skype for more than an hour for which I had turned my oDesk time tracker on and it billed the client for half an hour. But in the middle of our video conferencing, my internet connection got lost but was able to restablish my connection after 6-7 hours later. After the time I found out the client put the contract on hold and I have apologised for the accident and refunded the billed amount after more conversations. The client told me that the project got out of his hand for the deadline failure and afterwards, he ended the contract and offered other tasks for which our conversation is still going on.

Now, I am presented by a waiting for feedback by oDesk for the contract that I fully refunded.

If no money has been paid, the contract and public feedback will not show on your public Work History. However, jobs that ended without payment or with a full refund are included into your Job Success score which takes your client's private feedback into consideration. In your case, it doesn't sound like your client was unsatisfied with your service and just had to end the contract for other reasons. So the client's private feedback might not be bad.